Date
Details
Price
Change
Source
2/17/2026
Listed
$475,000
—
MLS
Disclaimer: Historical sales information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.
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1/14
$475,000 Just Listed
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1/14
Property Description
Excellent investment opportunity with this 6-unit multifamily property featuring a strong rental history and solid long-term tenants in place. The building includes a mix of 4 one-bedroom units and 2 two-bedroom units, currently generating approximately $4,500 in total monthly rent with potential for future rent increases. Several units have seen recent updates, including new vinyl flooring and carpeting in 4 of the units within the last 1-3 years, while the remaining units offer hardwood and older finishes. Bathrooms have had updated fixtures and replaced toilets, and all units remain functional and well-maintained. The property offers separate entrances for most units, off-street parking, and a basement area with utility meters and additional storage. All units are electric with baseboard heat, and the building has no known electrical, plumbing, or foundation issues. A great opportunity for investors seeking stable cash flow with upside potential.
Full Property Details
Full Property Details for 741 Elgin St
General
- Price: $475,000
- Taxes: $6,695 (2024)
- Status: Active
- Type: Commercial
- Source: MRED
- MLS ID: 12571125
- Updated: 2/17/2026
- Added to Site: 2 day(s) ago
Location
- Area: Cherry Valley / Irene
- County: Winnebago
- Driving Directions: From I-90 (Jane Addams Memorial Tollway), take the exit for US-20/State Street toward Rockford. Continue west, then take the exit for Cherry Valley Road and head south into the Village of Cherry Valley. Turn onto Elgin Street and continue to 841 Elgin St. The property will be located on your right.
Heating & Cooling
- Heating Type: Gas
Structural Information
- Stories/Levels: 2
- Year Built: 1960
- Built Before 1978: Yes
Lot Features
- Lot Size (Acres): 0.34
- Lot Dimensions: 14810
- Zoning: MULTI
Financial Considerations
- Insurance Fee: $3,420
- Operating Expenses: $10,415
- Assessment Year: 1960
- Tax Amount: $6,695
- Tax Year: 2024
Disclosures and Reports
- Property ID: 1601254006
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— 741 Elgin St —
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Schools
Schools serving 741 Elgin St
School District:Rockford School District 205
| Name | Grades | Distance |
|---|---|---|
White Swan Elementary School 6754 Armer Drive, Rockford, IL 61109 | K-5 | 2 mi |
Bernard W Flinn Middle School 2525 Ohio Parkway, Rockford, IL 61108 | 6-8 | 5.3 mi |
Jefferson High School, Rockford, IL 4145 Samuelson Road, Rockford, IL 61109 | 9-12 | 5.2 mi |
Disclaimer:
School attendance boundaries provided by Pitney Bowes and are for reference only. Contact the school directly to verify enrollment eligibility.
Price & Sales History for 741 Elgin St
Tax History
Tax History for 741 Elgin St
Year
Property Taxes
Change
Tax Assessment
Change
2024
$6,695
5%
$87,504
11%
2023
$6,406
100%
$78,683
6%
2022
-100%
$74,125
5%
2021
$6,718
—
$70,494
4%
2021
$6,718
2%
$67,497
5%
2019
$6,618
-3%
$64,332
7%
2017
$6,798
1%
$60,270
2%
2016
$6,748
1%
$58,996
2%
2015
$6,700
2%
$57,913
—
2014
$6,575
-3%
$57,913
-7%
2018
$6,775
7%
$62,102
4%
2013
$6,333
5%
$59,563
-4%
2012
$6,060
—
$61,742
—
Disclaimer: Historical tax information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.
Estimate the Cost
Estimate the Cost for 741 Elgin St
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- Single Family
- Active
- Updated 8 hours ago
- 3Beds
- 2Total Baths
- 2,394Sq. Ft.
- Single Family
- Active
- Updated 6 days ago
- 3Beds
- 2Total Baths
- 1,580Sq. Ft.
- Single Family
- Active
- Updated 1 hour ago
- 3Beds
- 2Total Baths
- 2,394Sq. Ft.
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![[Address not provided], Belvidere, IL 61008 - Photo 1](https://m.cbhomes.com/p/155/12557667/3b3d4dC893fa4a4/s23cc.webp)
- Single Family
- Active
- Updated 3 days ago
- 4Beds
- 1Total Bath
- 2,660Sq. Ft.
- Single Family
- Active
- Updated 1 day ago
- 3Beds
- 2Total Baths
- 2,331Sq. Ft.
- Single Family
- Active
- Updated 15 hours ago
- 4Beds
- 3Total Baths
- 2,248Sq. Ft.
- Single Family
- Active
- Updated 6 days ago
- 4Beds
- 3Total Baths
- 2,248Sq. Ft.
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741 Elgin Street, Cherry Valley, IL 61016 (MLS# 12571125) is a Commercial property. 741 Elgin Street is currently listed for $475,000 and was received on February 17, 2026. Want to learn more about 741 Elgin Street? Do you have questions about finding other Commercial real estate for sale in Cherry Valley? You can browse all Cherry Valley real estate or contact a Coldwell Banker agent to request more information.